Things To Think About Before Going To An Auction

Attending an auction can be a fantastic & exciting method of sale for those looking to purchase a new property, however there are some things which prospective buyers need to keep in mind when going to an auction.

Set a budget
Achieving success at auction time requires that you have set a careful budget and that you are willing to stick with it. Don’t fall into the trap of spending more than you can afford.

Do your research
Make sure you carry out the essential research before placing a bid at an auction. This means not only thoroughly knowing the property you are planning on buying, but also the local neighbourhood. Make sure you have read up on the previous auction results in the area to get an idea of how much the property is likely to sell for and how much you are willing to spend.

Know your rights
When purchasing property at an auction, is it important that you know your rights and that you understand your legal responsibilities. Generally you can expect to be required to pay a 10% deposit on the spot after you have won the auction. Also, you will not get a cooling-off period after the auction is complete, so make sure you bid carefully and that your finances are in order before making any final decisions.

Latest News

Home and garden apps are the hidden gold of our digital age. As appealing as it might be to outsource all home and garden tasks to a seasoned professional, for many of us this is neither affordable nor does it allow a sense of ownership over our domain. Not only &mldr; Read more

Ray White’s very own Christmas charity initiative has helped thousands of underprivileged children and this year we have chosen to support the Sydney Children’s Hospital Randwick. Be a part of our most successful community drive and put a smile on a child’s face this Christmas by dropping a gift into our &mldr; Read more